BGC Group, Inc.
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 9, 2026
BGC$11.07+0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows—For the and
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Consolidated net income (loss) | $222,311 | $135,706 |
| Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities: | ||
| Fixed asset depreciation and intangible asset amortization | 77,101 | 75,190 |
| Employee loan amortization and reserves on employee loans | 67,897 | 61,081 |
| Equity-based compensation and allocations of net income to limited partnership units | 232,180 | 233,696 |
| Deferred compensation expense | 1,992 | 529 |
| Losses (gains) on equity method investments | (12,769) | (7,027) |
| Unrealized/realized losses (gains) on financial instruments owned, at fair value and other investments | (13,344) | (620) |
| Amortization of discount (premium) on notes payable | 3,625 | 3,974 |
| Impairment of fixed assets, intangible assets and investments | 23,772 | 1,668 |
| Deferred tax provision (benefit) | 10,644 | 4,155 |
| Change in estimated acquisition earn-out payables | 1,846 | 4,292 |
| Forfeitures of Class A common stock | (442) | (152) |
| Losses (gains) on divestitures | (54,964) | — |
| Other | (104) | — |
| Consolidated net income (loss), adjusted for non-cash and non-operating items | 559,745 | 512,492 |
| Decrease (increase) in operating assets: | ||
| Financial instruments owned, at fair value | 34,099 | 38,913 |
| Receivables from broker-dealers, clearing organizations, customers and related broker-dealers | (1,222,803) | (1,528,458) |
| Accrued commissions receivable, net | (113,237) | (107,109) |
| Loans, forgivable loans and other receivables from employees and partners, net | (126,801) | (143,797) |
| Receivables from related parties | 2,895 | (3,537) |
| Other assets | 34,463 | (96,039) |
| Increase (decrease) in operating liabilities: | ||
| Accrued compensation | (20,330) | (11,226) |
| Payables to broker-dealers, clearing organizations, customers and related broker-dealers | 1,190,052 | 1,490,040 |
| Payables to related parties | 34,962 | (27,219) |
| Accounts payable, accrued and other liabilities | 48,547 | 89,878 |
| Net cash provided by (used in) operating activities | $421,592 | $213,938 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Proceeds from sales of businesses, net of cash sold | $20,970 | $— |
| Purchases of fixed assets | (43,582) | (16,195) |
| Capitalization of software development costs | (29,813) | (32,075) |
| Purchase of equity method investments | — | (750) |
| Proceeds from equity method investments | 9,448 | 8,936 |
| Payments for acquisitions, net of cash acquired | — | (279,098) |
| Purchase of investment carried under measurement alternative | (5,026) | — |
| Loan to related parties | — | (120,000) |
| Proceeds from repayment of related parties loan | — | 120,000 |
| Purchase of other assets | (307) | (778) |
| Net cash provided by (used in) investing activities | $(48,310) | $(319,960) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Issuance of long-term debt, net of deferred issuance costs | $70,695 | $1,197,762 |
| Repayments of long-term debt borrowings | (75,000) | (705,000) |
| Repayment of short-term borrowings from related parties | (20,000) | — |
| Earnings distributions to limited partnership interests and other noncontrolling interests | — | (470) |
| Payments for tax obligations related to equity awards | (113,450) | (85,353) |
| Dividends to stockholders | (28,902) | (29,340) |
| Repurchase of Class A common stock | (236,051) | (213,549) |
| Payments on acquisition earn-outs | (639) | (775) |
| Net cash provided by (used in) financing activities | $(403,347) | $163,275 |
| Effect of exchange rate changes on Cash and cash equivalents, and Cash segregated under regulatory requirements | 1,076 | 8,670 |
| Net increase (decrease) in Cash and cash equivalents, and Cash segregated under regulatory requirements | (28,989) | 65,923 |
| Cash and cash equivalents, and Cash segregated under regulatory requirements at beginning of period | 873,673 | 733,273 |
| Cash and cash equivalents, and Cash segregated under regulatory requirements at end of period | $844,684 | $799,196 |
| Supplemental cash information: | ||
| Cash paid during the period for taxes | $111,293 | $112,105 |
| Cash paid during the period for interest | 68,349 | 49,076 |
| Supplemental non-cash information: | ||
| Issuance of Class A and contingent Class A common stock for acquisitions | $3,903 | $6,588 |
| ROU assets and liabilities | 47,812 | 65,703 |
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